IMPORTANT BITCOIN UPDATE! (& top altcoins to watch for 2021)
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03:15 bitcoin analysis
09:11 traditional markets
Snipers, you have to see what’s happening.
The Cryptocurrency market this Friday is
traditional markets are about to close
and Bitcoin is still flirting between
the thirty five thousand thirty thousand
dollar range forming this flag.
And I talked about this yesterday when
Bitcoin is taking the latter down.
We want to practice patience because
that is the name of the game right now.
And we know that when Bitcoin is
Altcoins like to perform.
So what I want to talk about today,
while Bitcoin is inside of this range
of thirty five thousand,
thirty thousand is we all know is what
Altcoins are we going to start watching?
Ethereum came down below seventeen sixty
on the twenty sixth of June when
Bitcoin formed this higher loan.
That was the best opportunity throughout
this whole consolidation
to enter Ethereum.
And so are we going to see more of those
Altcoin opportunities garner themselves
while Bitcoin is consolidating
in the sideways area and range between
thirty five thousand and thirty thousand.
That’s on the table certainly with others
dominants being the most bullish
chart in the Cryptocurrency market.
So as we start to cover more and more
Altcoins, I’m actually going to start
including more of my personal
favorites on my videos.
Like Lync, today’s will analyze with its
major key resistance and support levels,
and I will slowly incorporate more
and more Altcoins into our videos
for those tuned in the Snipers channel as
we progress into this weekend,
since Bitcoin is taking the laterite now,
allowing us to practice some patience.
But that’s garnering opportunities
in the Altcoin market.
Noticia with Bitcoin
we’re seeing a Ethereum against Bitcoin
showing some weakness here,
looking like it’s having a cup
of coffee this one day moving average.
What happens when you’re having a cup
of coffee for too long is that’s
not the final destination.
And so are we going to be seeing a little
bit more downside here for Ethereum
garnering a opportunity for the Ethereum
the US dollar price to get
back below seventeen sixty?
That’s also on the table today.
I want to talk about that.
And then we’ll also look
at traditional markets.
Of course, it’s Friday and the unique
thing about our channels, we incorporate
traditional markets into our analysis.
The DXY is above ninety two point six
to this is not what we want
to see closing the day today.
This is going to be a major puzzle piece.
Now, if we’re not going to see strength
beyond the current candle high here
of ninety two point eight, four or five,
we could be buying ourselves some time
into this weekend, but coming into Monday
with the DXY closing above ninety two
point sixty two on Friday, which is today,
I don’t know if that’s going to be
the best outlook into Monday.
So I want to talk about the DXY,
what I’m watching, of course,
in the S&P 500, reacting to this,
showing this bearish continuation Candles
with a tail heading towards this monthly
open at that forty three hundred big even.
That’s a big puzzle piece
for Bitcoin as the S&P.
Five hundred certainly has a lot
of correlations to Bitcoin,
as we saw in March twenty twenty.
So let’s talk about
what’s happening today.
You guys are watching the Snipers Cardano.
My name is Naeem Alobaidi on a Friday.
Remember to smash it like
one for the Egypt algorithm.
We want to hit one hundred
thousand Snipers on this channel.
We’re already at forty five thousand.
So we look at Bitcoin.
We know there’s volume below thirty
thousand for those haven’t tuned in thirty
five thousand thirty four thousand seven
hundred eighty eight to be exact,
is the level we need to get to the fifty
day moving average and the monthly
open showing confluence here now.
So while Bitcoin is taking the latter
down, I talked about
patients being the name of the game.
That’s exactly what I think is holding
true right now as we form this flag.
Notice how Bitcoin form this low at thirty
thousand we had this lower load
with a candle low here at twenty eight
thousand eight hundred and five.
And since then we’ve maintained ourselves
above the market structural support areas,
which is really at that thirty
thousand dollars level.
And so could we assume that we came about
thirty four thousand seventy eight.
We’re seeing this flag that at some point
or another is just going to trend itself
above the fifty moving average
now that it’s finally here.
back here in early June,
the fifty day moving average
was at forty four thousand.
So the fact of the matter
is right now, on July
15th, the fifty day moving average is at
thirty four thousand seven hundred eight.
That’s way closer to the price action than
it was when it was at forty four thousand.
So are we going to be able to see
Bitcoin flow its way following the path
of least resistance,
which we know side to a little bit higher,
to just casually come above the fifty
moving average to now kind of shock people
and say, OK, well now we can start looking
at a reversal that’s on the table.
I’m being the umpire,
I’m just giving you the scenario.
And the fact is
between thirty five thousand and thirty
thousand bitcoins in a floating zone.
And the reason it’s like that is because
the range is thirty five thousand to.
Twenty six thousand,
so this is the range that we’re
playing and this is the game field.
This is the football field.
This is the one hundred yards.
Here’s the touchdown and here’s
the other touchdown.
So we have to think of it like that.
This is where we’re playing our game.
And so we know 30000 has volume.
And for those that haven’t been
to the Snipers, Cardano always have your
limits right now below twenty six thousand
or twenty thousand,
because if we see the real south side
pressure come in, we’ll have to see order
flow into the order books to really breach
this thirty thousand dollars level because
there’s tons of volume here and since
there’s tons of volume,
it’s going to have to be a fast move.
We can expect some sort of support
at twenty thousand,
but there is a potential we can pick all
the way down of that lower area here where
we test that multi-year support level
that’s always on the table because we’re
unfortunately under thirty five thousand.
So with that being said,
with Bitcoin, we know the game plan.
Thirty five thousand
and thirty thousand right now.
Ethereum, though, leading
the pack for other Altcoins.
We look at what’s happening here,
falling below and moving average
and nineteen eighty,
having this cup of coffee, that means
it’s not the final destination.
We’ve already tested seventeen,
sixty four times.
We’re going to come
and test it one last time.
You knock on a door multiple times,
the likelihood of that door
opening becomes a lot higher.
I’m still looking at this range between
fourteen forty right now.
And I’m going to wait because
patience is the name of the game.
When the ladder is being taken.
If Bitcoin can start heading towards
thirty five thousand and we get back above
that would be really positive here
for theory because now our range takes
us all the way to thirty five hundred.
This previous week we open and green
doesn’t matter because that’s going
to change here into the weekend.
So that’s what I’m monitoring.
1760 is extremely important in nineteen
eighty above nineteen eighty,
very bullish below nineteen eighty.
There’s a potential we
can come down below 1760.
So a lot of that will have to really rely
on what Bitcoin does into the weekend.
Of course if it stays between thirty five
thousand, thirty thousand we could be
seeing strength these
Altcoins at any point.
The theory Bitcoin camping out at the end
of the day, moving average,
having a cup of coffee or
below the weekly monthly open.
Looks like it has
potential to see downside.
But regardless in the macro,
this is a bullish trend, right?
So no matter what happens,
the three Bitcoin sure I’m cool with it.
We’re going to start looking at more
Altcoins, as I mentioned at the start
of this video link here, of course,
very popular Altcoin
very important in the Ethereum
and the smart contract ecosystem,
of course, being an oracle right now,
we’re seeing very good price levels for
look at this, we’re
at fifteen, sixty five.
And if you would have gotten
gotten in at fifteen, sixty five
for the only two pastimes that we’ve
tested it, you were only able to get it
on a wick and now we’re
just camping out here.
this price level at fifteen dollars
and sixty five cents for Linc was a very
strong entry in the past.
And right now we’re just camping here.
So does that mean we’re just
going to see this come back up?
That’s a potential.
But right now, monitoring this fourteen
forty five and twelve dollar level,
if we see the downside scenario play out,
just like Ethereum has that pocket,
this doesn’t look like a big pocket.
But when we look at percentage wise
for Linc, fourteen point five to twelve
point one is almost twenty
percent range here.
So that’s the pocket I’m looking for.
When it comes to link,
if we get below fourteen point six,
it looks like there’s a possibility we can
test towards that twelve dollar level.
I think this would be
a prime entry for Linc.
If we see any downside,
that’s going to be a very, very
big focus of mine as we
try to determine our long term entries
and Snipers the Altcoins as we see what
happens to Bitcoin over the next few days,
Altcoin dominants still showing some
strength, I think, to be worried about.
We’re above this one day moving average,
still very bullish chart Bitcoin
dominance, not doing much.
Traditional markets are going to be closer
to DXY above ninety two point sixty
two is not what I want to see.
But as long as we’re not breaking this
candle high, that means that we’re not
going to see the real volatility yet.
Then I think that’s fine for this weekend.
We can assume a calm environment.
That means that Bitcoin being between
thirty five thousand and thirty
thousand this weekend is highly likely.
And opening up next week,
if we see this push above ninety two point
eight, four or five,
that could be a concern because that could
cause the elevator to be taken
for Bitcoin and the traditional markets.
So I want to watch that.
And the S&P 500 reacting to this
with this bearish price action.
And you can see about close here,
it’s extremely bearish tale.
Unless this changes,
it looks very bearish.
And so that’s not a good sign
for Bitcoin U.S. oil actually showing
weakness as much as its up
point zero nine percent today.
It’s been on this big downtrend here.
So we want to monitor that.
And so the environment is calm,
it’s not too bad right now for Bitcoin,
I think thirty five to thirty thousand
might be a nother
storyline for this weekend.
I know it’s been pretty redundant,
but that could garner opportunities
for Altcoins like Linc’s.
I’m going to start incorporating
those into our videos.
If you want your Altcoins on the video,
comment below your favorite Altcoin.
They’ll also continue to a video,
a video giveaway here
to Principles by Ray D’Alessio.
Just come your favorite Altcoin.
And like this video, let’s say 100000
subscribers on the Snipers channel.
Guys, we’re almost there
at forty five thousand.
I’m going to pick a winner
for this book from our last video.
Vinicius Ngonyama Dilator says, Let’s
see how this falling wedge plays out.
Great video is always Naeem.
Thank you so much for the kind words.
And with that, I appreciate each and every
one of you Snipers tuned into our
channel until next time Snipers out.